Adaptation

How often we hear complains about the peculiarities of Russian accounting and failures of implementation of international Integrated Banking System (IBS) in Russian banks. The widely announced adoption of International Financial Reporting Standard does not solve the problem due to the facts that a) the Russian accounting standards (RAS) remain obligatory for the banks and b) the IFRS reports should be produced from Russian reports by transformation. It means that every bank faces the problem how to provide the accounting which is fully complied with RAS.

Total Ledger (TL) is the module that fully solves the problem of providing RAS accounting and reporting for any international IBS. All that IBS should provide is the procedures to load operational data from IBS to TL. For localization no changes in modules are required, the implementation is done by parameterization only. The very painful problem to support the changes in Russian legislation is easily solved – all changes are done in TL without even touching the IBS modules. Thus the IBS becomes really supportable: upgrade to a new version of IBS can be done at any time.

Total Ledger description